IKEA Taps Phoenix Solar for Rooftop Solar Project in Singapore

SINGAPORE & SULZEMOOS, GERMANY –(eSolarEnergyNews)–Singapore’s Phoenix Solar Pte Ltd has been awarded a contract by IKEA Southeast Asia to design and build a 1 MWp solar system on the roof of IKEA Tampines. The system is expected to generate 1.3 million kilowatt hours per year – enough renewable energy to power the equivalent of 283 four-room HDB flats. IKEA expects to trim an estimated $2.4 million from the store’s electrical bills over the next ten years. This project follows the successful 1 MWp solar rooftop system installation on top of the company’s Megabangna mall in Bangkok and is the start of additional collaborations already in the pipeline between IKEA Southeast Asia and Phoenix Solar. Phoenix Solar Pte Ltd is the Singapore based subsidiary of Phoenix Solar AG (ISIN DE000A0BVU93), an international photovoltaic (PV) system integrator listed on the official market (Prime Standard) of the Frankfurt Stock Exchange. The contract with the IKEA franchisee is based upon a non-exclusive regional framework agreement executed recently between the two companies covering turnkey services for engineering, procurement, installation, operation and maintenance (O&M) of commercial rooftop solar PV systems. The agreement provides a streamlined procurement process while maintaining competitive pricing strategies. "This project supports […]

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